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    1600 Randall Rd Elgin, IL 60124

    • Office Properties & Spaces
    • 99,903 SF
    For Lease
    View listing
    $17 SF/Yr
    Value Estimation
    $12,980,000
    Last Sale
    Nov 01, 2021
    $13,300,000
    Location Intelligence
    Property ID
    US28-3388766
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 1600 Randall Rd

    Year built
    2009
    Property size
    99,903 SF
    Property type
    Office Properties & Spaces
    APN
    03-31-279-004
    APU
    331279004

    Description

    This exceptional Class A, four-story medical office building, totaling 99,903 square feet, is situated at 1600 N Randall Rd, Elgin, IL 60124. Built in 2009, the property boasts modern finishes and ample parking on a 6.4-acre lot. Available spaces range from 2,132 to 20,339 contiguous square feet, offering flexibility for various medical practices. Options include move-in ready suites, build-to-suit opportunities, and full-floor occupancy. Generous tenant improvement allowances or turnkey buildouts are available to customize spaces to meet specific needs. The building features elevators and is zoned PORI. The property enjoys a prime location directly on Randall Road, a quarter mile from I-90, providing easy access to major transportation routes. O'Hare International Airport is conveniently located 29 miles east, and downtown Chicago is 40 miles southeast. The building benefits from a strong tenant roster, including Northwestern Medicine and Derick Dermatology. Elgin's thriving downtown area, featuring new residential developments, a revitalized River Walk, and a growing number of shops and restaurants, further enhances the property's appeal. The proximity to the Metra Train Station and the expanded Sherman Hospital (255 beds) adds to the area's economic vitality.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $12,525,000

    • CAP approach

      CAP return
      Estimation
      6%
      $13,355,000
      6.5%
      $13,420,000
      7%
      $14,195,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $11,885,000
      Geo Method
      $11,880,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $14,605,000
      Retail
      $12,835,000
      Mixed-Use
      $14,735,000
      Hospitality
      $11,970,000
      Educational
      $15,095,000
      Residential Income
      $13,215,000
      Energy
      $13,795,000
      Income-Based Land
      $16,275,000
      Food Service
      $14,335,000

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.3367
    Latitude
    42.0744
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $353,732
    $1,247,457
    $2,938,068
    $4,185,525
    -
    $3,742,371
    $8,814,204
    $12,556,575

    Comparable in this City

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      OFFICE (GENERAL)
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    • Value Estimation
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      574 Mclean Blvd

      OFFICE (GENERAL) • 7,918 SF
      574 Mclean Blvd, Elgin, IL 60123-3259
      View Details
    • Value Estimation by Request

      1750 Randall Rd Ste, Unit 150

      OFFICE (GENERAL)
      1750 Randall Rd Ste, Elgin, IL 60123-7900
      View Details

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    1600 Randall Rd
    Elgin, IL 60124
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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